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Sean Joy - CEO Journey within Chenmark - Ep.152
Think Like an Owner
How Do You Manage Cash During the Off Season?
With a boat to your business, you mentioned that most of your revenue comes within kind of an eight to 10 week period of the year. What are some ways that you manage cash throughout the year where you have that degree of cyclicality or seasonality? Yeah, well, fortunately, most of our costs are variable. We do obviously have some fixed costs, but our people, so if we're not running cruises, had certain times of the year where our payroll expense goes way down,. Our rent is variable. Most of our large buckets of expenses are variable. There's no real AR because people just pay as they come. Though honestly, I would say I'm not as worried
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